MergerPlace

Iconic Restaurant in Richmond, VA

Virginia


  • Asking Price: $374,900
  • Gross Income: $575,943
  • Cash Flow: $125,726
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: $25,452
  • Listing ID: #198093
  • Established: Not Disclosed
  • Employees: 2 FT/15 PT

Business Description

This is a unique opportunity to own a landmark restaurant in historic Richmond, Virginia. Located in one of Richmond's trendiest historic districts, this restaurant has served customers for over 50 years. Offering only 2 day parts, this restaurant has grown sales year after year, and is perfectly positioned to ride the wave of commercial and residential development in the area. With a simple but satisfying menu, low overhead and established customer base, this is truly a turn-key opportunity for the aspiring restaurateur!


Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: Virginia

Company Information

Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 2 FT/15 PT

Financial Information

Asking Price: $374,900
Gross Revenue: $575,943
Cash Flow: $125,726
FF&E: $25,452
Seller Financing Available: No

Property Information

Facilities:

The restaurant has operated from the same facility for over 50 years and is literally a fixture in the community. Seating for 120 guests, including an outdoor patio, a modern and flexible kitchen and ample parking.

Growth & expansion opportunities:

Growth will continue to occur naturally as the local area continues to develop. Additionally, new owner may choose to open for additional day parts and/or expand menu offerings. Additional advertising may help attract new customers from outside of the area.

Competition:

While there is no shortage of restaurants in Richmond, there is very little competition in the immediate area and a growing residential community is already increasing demand. This restaurant occupies a unique niche in the community.

Reason for selling:

The owner is retiring.

Support & Training:

Will train for 2 weeks @ no cost. Restaurant serves only 2 day parts and is actively managed by the current owner. New owner should have basic restaurant and management skills. Beer and wine license.

Contact Business Seller

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Business Listed By:

Michael Metzger

Murphy Business Brokers